China Shipbuilding Industry Corp (CSIC) is making a move to increase its stake in its two shipbuilding subsidiaries by buying their equity interests currently in the hands of other state-owned enterprises (SOEs).

The investment arm of Fujian Shipbuilding Industry and compatriot Mawei Shipbuilding have signed a contract for the construction of a service operations vessel (SOV) for offshore windfarm work, reports said.

Embattled OSV builder Nam Cheong has urged noteholders to support the company’s financial restructuring involving approximately $220m of unsecured debts.

China Shipbuilding Industry Corporation (CSIC) has revealed that the group is poised to enter into a restructuring agreement with an unnamed party by 15 September, a deal that is expected to round up the group’s ongoing consolidation exercise amid the shipbuilding industry downturn.

Qingshan Shipyard, a subsidiary of state-owned Sinotrans & CSC with more than 60 years of history, has confirmed a plan to cease its core shipbuilding business due to the protracted industry recession, reports said.

Thun Tankers, part of the Gothia Tanker Alliance network, has exercised an option for a fifth product/chemical tanker to be built at China’s Avic Dingheng Shipbuilding.

Smart ships, which just two years ago were considered a mere R&D concept, have become the main direction for development in every major shipbuilding country, according to a Marintec China 2017 press briefing.

Cosco Shipping Specialised Carriers has ordered two multipurpose paper pulp vessels at its affiliate yard Dalian Cosco Ship Engineering to fulfil a contract of affreightment (COA) inked earlier with Brazil’s Suzano Papel e Celulose.

China’s privately-owned Yangzijiang Shipbuilding is looking to raise SGD209.61m ($154.42m) by way of private placement of 137m ordinary shares to institutional and other investors.

China Shipbuilding Industry Corporation (CSIC) has established a new marine propulsion facility in Qingdao, Shandong province.

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